Form 4: Jack in the Box CEO Darin Harris Reports Stock Transactions Following Performance Share Vesting
SEC Form 4 Filing
Jack in the Box CEO Darin Harris acquired 20,726 shares of common stock through performance-based vesting and subsequently sold 14,671 shares to cover tax obligations.
Summary
- Jack in the Box CEO Darin Harris acquired 20,726 shares of common stock on December 20, 2024, as part of a performance-based vesting.
- Following the vesting, Mr. Harris sold a total of 14,671 shares on December 23, 2024, at a price of $40.52 per share.
- These sales were automatically executed to cover tax withholding obligations related to the vesting of performance shares and restricted stock units.
- After these transactions, Mr. Harris directly owns 138,803 shares of Jack in the Box common stock.
Sentiment
Score: 7
Explanation: The document reflects standard executive compensation practices and does not indicate any significant positive or negative sentiment. The transactions are routine and expected.
Positives
- The vesting of performance shares indicates that pre-established performance goals were met for the 2022-2024 period.
- The automatic sell-to-cover policy ensures compliance with tax obligations.
Industry Context
This is a routine filing related to executive compensation and is common for publicly traded companies. It reflects the vesting of performance-based equity awards and the subsequent sale of shares to cover tax liabilities.
Comparison to Industry Standards
- The use of performance-based equity awards is a common practice among publicly traded companies to align executive compensation with company performance.
- Automatic sell-to-cover policies for tax obligations are also standard practice to simplify tax compliance for executives.
Stakeholder Impact
- The transactions have a minor impact on shareholders as they are related to executive compensation and do not indicate any change in the company's fundamentals.
Key Dates
| Date | Description |
|---|---|
| 12/20/2024 | Date of acquisition of 20,726 shares of common stock due to performance share vesting. |
| 12/23/2024 | Date of sale of 14,671 shares of common stock to cover tax obligations. |
Keywords
Jack in the Box, Darin Harris, stock transaction, performance shares, vesting, tax withholding, SEC Form 4, insider trading
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